EG Group appoints Lord Rose as new chair

Lord Rose, who is currently the chair of pureplay grocer Ocado, will take up his new role as non-executive board chair with immediate effect. He is due to step down after eight years with Ocado in May and was previously executive chair of Marks & Spencer. 

Rose joins the petrol and forecourts giant after its billionaire owners, the Issa brothers, finalised a £6.8bn deal to acquire a majority stake in grocery giant Asda last autumn, alongside private equity firm TDR Capital. 

In October 2020, EG Group’s auditor Deloitte stepped down following concerns over the group’s governance and internal controls. 

Zuber and Mohsin Issa and TDR Capital, which also part-owns EG Group, have tasked Rose with developing “appropriate governance structures for a business of this scale”. 

EG Group has expanded rapidly over recent years and now operates convenience stores, foodservice outlets and fuel stations at more than 6,000 sites in 10 countries.

It reported sales in excess of €20bn (£17.6bn) in the year to December 2019, with an EBITDA of €910m (£804.8m). 

On Rose’s appointment, the Issa brothers said: “Stuart has an excellent record in business and we are delighted that he is joining us at this exciting time for EG Group. We have plans to create significant convenience and foodservice opportunities for our customers, and Stuart’s retail and consumer experience will provide invaluable insight and support.”

Lord Rose said: “I am delighted to chair the board of EG Group and I look forward to working with the board and management, including fellow non-executive John Carey, in the next stage of the development of a world-class, global-scale retail business.

“The Issa brothers are great British entrepreneurs of enormous drive, vision and ambition. EG’s board has asked me to develop appropriate governance structures for a business of this scale. The business has exciting development plans and exceptional prospects in the years to come.”